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what percentage of my federal and state taxes is taken out if my gross income is 75,000 and i live in plymouth massachusetts
Optional Information: plymouth, MassachusettsAlready Tried: everything
HiCustomer/p>
Thank you for using justanswer. The only % that are constant is social security at 6.2% and medicare at 1.45%. What your employer withholds for Federal and state is a product of frequency of pay (weekly, biweekly, etc) and how you fill out your W4. For Example:
$75000 annual salary paid bi weekly and you filled out your W4 form to claim Single/0, then your paycheck would be caluclated as follows:
Your Pay Check Results
Bi-weekly Gross Pay
Federal Withholding
Social Security
Medicare
Massachusetts
Net Pay
If you filled out your W4 and claimed Married/0, your paycheck would look like this:
The more allowances you claim on your W4 form (Single/0, Single/1, Single/2, etc) the more mouths you tell the IRS you need to feed, so IRS withholds less from each check.
Here is a website that allows you to look at different scenarios such as single/0, married/0, etc and its a website I use quite a bit for just that purpose:
Free Salary Paycheck Calculator - Calculate Your Paychecks Online
Please let me know if you have any questions.
I hope this helps you
Positive feedback and bonuses are always appreciated
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
Reply to Anne's Post: ok im a veteranarian and im single no allowances and im paes monthly. does that help?
Hi againCustomer/p>
Here is your information based on single/0
Salary Paycheck Calculator
Monthly Gross Pay
I hope this helps